News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
24
o
Bekaa
17
o
Keserwan
24
o
Metn
24
o
Mount Lebanon
19
o
North
22
o
South
23
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Concerts
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
24
o
Bekaa
17
o
Keserwan
24
o
Metn
24
o
Mount Lebanon
19
o
North
22
o
South
23
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Changes to VAT Calculation: What You Need to Know
Lebanon Economy
01-05-2023 | 09:42
High views
Share
Share
2
min
Changes to VAT Calculation: What You Need to Know
What is the truth behind the current rumors about changes in the calculation of VAT, and will it affect citizens?
What happened is as follows:
A merchant who used to import goods worth $100 had to pay a VAT of $11 on them.
However, the payment was made in Lebanese lira.
The $11 used to be equal to 16,500 Lebanese liras when the exchange rate was 1,500.
When the official exchange rate of the dollar became 15,000 LBP, the tax value became 165,000 LBP.
This merchant takes this merchandise to sell it at retail.
Let's assume that its price remained at $100 or 10 million Lebanese liras at today's exchange rate.
Adding the 11% VAT, its price becomes 11,100,000 Lebanese liras.
Therefore, the value of the tax on the value added to this merchandise was 1,100,000 Lebanese liras, based on the black market dollar rate.
Meanwhile, the wholesale trader paid only 165,000 Lebanese liras to the state because the VAT was calculated based on the official exchange rate of the dollar.
This means that if the wholesale trader sells at retail, they would have made a profit of 935,000 Lebanese liras.
To stop these discrepancies and ensure more revenue for the treasury, a decree was published in the official gazette that calculates the VAT based on the customs dollar rate upon import, which is determined monthly.
As for VAT between wholesale traders, it is calculated based on Sayrafa rate.
The VAT is calculated according to the Sayrafa platform, for invoices issued by official entities in foreign currency, including wired and wireless communications services, airport fees, and ports set in foreign currencies.
Lebanon News
Lebanon Economy
News Bulletin Reports
VAT
Lebanon
Next
Finance minister signs decree granting August bonus to military personnel
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:04
Lebanon reviews $16.5 billion dispute as depositors await clarity on their funds
News Bulletin Reports
13:04
Lebanon reviews $16.5 billion dispute as depositors await clarity on their funds
0
News Bulletin Reports
2025-10-10
Beirut Souks reopen after five years of crisis — a boost for the capital’s economy
News Bulletin Reports
2025-10-10
Beirut Souks reopen after five years of crisis — a boost for the capital’s economy
0
Lebanon Economy
2025-10-10
Fuel prices in Lebanon drop
Lebanon Economy
2025-10-10
Fuel prices in Lebanon drop
0
Lebanon Economy
2025-10-07
Economy Minister sees signs of a promising year ahead for the Lebanese economy
Lebanon Economy
2025-10-07
Economy Minister sees signs of a promising year ahead for the Lebanese economy
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
13:00
Suspending the past: Lebanon and Syria suspend joint council, signaling a new phase in ties
News Bulletin Reports
13:00
Suspending the past: Lebanon and Syria suspend joint council, signaling a new phase in ties
0
Israel-Gaza War Updates
10:51
Civil defense says more than 500,000 returned to Gaza City since ceasefire
Israel-Gaza War Updates
10:51
Civil defense says more than 500,000 returned to Gaza City since ceasefire
0
Israel-Gaza War Updates
10:11
Israel moves prisoners ahead of Gaza deal exchange
Israel-Gaza War Updates
10:11
Israel moves prisoners ahead of Gaza deal exchange
0
Lebanon News
2025-09-14
France opens probe into former Lebanese PM Najib Mikati over suspected illicit assets
Lebanon News
2025-09-14
France opens probe into former Lebanese PM Najib Mikati over suspected illicit assets
Videos
d-none hideMe
0
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
0
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
0
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
08:17
Israeli strike targets vehicle in South Lebanon's Qalaouiyeh
Lebanon News
08:17
Israeli strike targets vehicle in South Lebanon's Qalaouiyeh
2
Lebanon News
08:31
Hezbollah condemns Israeli strike on South Lebanon, urges Lebanese state to take a firm stance
Lebanon News
08:31
Hezbollah condemns Israeli strike on South Lebanon, urges Lebanese state to take a firm stance
3
Lebanon News
07:28
LBCI sources: Finance Minister affirms support for South Lebanon relief efforts
Lebanon News
07:28
LBCI sources: Finance Minister affirms support for South Lebanon relief efforts
4
News Bulletin Reports
13:04
Lebanon reviews $16.5 billion dispute as depositors await clarity on their funds
News Bulletin Reports
13:04
Lebanon reviews $16.5 billion dispute as depositors await clarity on their funds
5
Lebanon News
07:33
Foreign Ministry condemns Israeli strike on Msayleh as 'blatant violation' of Lebanon's sovereignty
Lebanon News
07:33
Foreign Ministry condemns Israeli strike on Msayleh as 'blatant violation' of Lebanon's sovereignty
6
News Bulletin Reports
13:00
Suspending the past: Lebanon and Syria suspend joint council, signaling a new phase in ties
News Bulletin Reports
13:00
Suspending the past: Lebanon and Syria suspend joint council, signaling a new phase in ties
7
Lebanon News
06:00
Berri condemns Israeli strike on South Lebanon's Msayleh: This is an attack on all of Lebanon
Lebanon News
06:00
Berri condemns Israeli strike on South Lebanon's Msayleh: This is an attack on all of Lebanon
8
Israel-Gaza War Updates
15:50
Hamas, Palestinian factions reject any ‘foreign guardianship' over Gaza
Israel-Gaza War Updates
15:50
Hamas, Palestinian factions reject any ‘foreign guardianship' over Gaza
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More